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Monday, Sep 30
Berkshire to receive more than $2B in Goldman shares
- Berkshire Hathaway (BRK.A, BRK.B) is set to receive over $2B in Goldman Sachs (GS) shares via warrants that the holding company obtained at the height of the financial crisis in 2008, when its investment helped save GS from collapse.
- Warren Buffett's firm invested $5B for a preferred holding - which GS redeemed in 2011 - and received warrants to acquire $5B in stock for $115 a share.
- In March, Berkshire agreed to exercise the warrants through a cashless transaction in which it will receive an amount of stock equivalent to its paper profit.
- GS shares closed at $159.85 on Friday.